Savannah morning news. [volume] (Savannah) 1868-1887, 1887-03-11
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S6,O00,000, and it was thought by the pro-
lectors of the plan that the Western
Union Company would readily buy the
system at cost price for the sake OF re-
lleving itself from persistent rivalry.
1t was hoped even that the sale OF the
telegraph lines would furnish capital
enough to reimburse the members or the
sYndIcates Tor the cash outlay, while a
whole year was allowed for settlement
for the remainder of The purchase money
The statements of DR.. NorYin Green
President of the Western Union Compa-
ny, and of Jay Gould, which were pub
lished in the Tribune yesterday, tended
to dlssipate these expectations. 1t was
found that all overtures to the Western
Union Company and its friends were re-
jected.
GOULD'S STATEMENT.
"New efforts to secure the cooperation
OF Mr.. Gould were made yesterday, but
without iurther success. He remarke ed Il
said esterday that had no wish to engage
in new enterprises. can only repeat the
statement to-day. Yes, it is true that L
was offered this morning contract which
Mr.. Sully is said to hold. on con-
dition that would furnish
the $l,O00.O00 necessary to make the
option good after to-day. My bank ac-
count has not been depleted for that pur-
pose. am willing that any one should
have control of the property who wishes
TO buy it on such terms. l should want
to look it over carefully before | named
any price for it.'
BALTIMORE FULL OF RUMoRS.
BALTIMORE, March 10.-Perfect quiet
Dervades the Baltimore and Ohio railroad
building to-day, and but few persons have
called. Mr.. Garrett still says he has
nothing to say. There is a rumOr on the
street that a part at least Of the holding
OF the Johns Hopkins University has
been sold, but no one in authority will
confirm or deny it. There was also ru-
NOR that meeting of railroad officials
was to be held this afternoon, but the
usual answer. ''really, do not Know"
was all that could be obtained from any
of the Baltimore and Ohio people. AT
the Stock Exchange to-day 1S0 shares OF
Baltimore and Ohio stock sold at prices
ranging from 179 down to 176. AT the
close at 2 o'clock 175 was bid and 176
asked.
GARRETT'S ADMISSIONS.
Robert Garrett this afternoon vir-
Baitimorean that there was con-
siderable truth in the newspaper
talk OF a big railroad deal. He would
give no definite idea of the particulars Of
the scheme, but from his remarks the in-
ference was drawn that the Baltimere
and OHIO railroad has become factor in
the syndicate that is to control something g
like national railway, reaching
from Canada to the Gulf
of Mexico and probably from
New YORK to the extreme West. 1t is
generally believed that the biggest rail
road deal on record has been or Is about to
be made, and that the passage of the inter-
state commerce bill hurried the affair 10
a settlement. Mr.. Sully mas been active
in arranging the "details of the scheme,
and he is the only one positively known
to be connected with it, but complete
chain Is believed to have been formed
of companies operating connecting
roads running the entire length of
the NOrtn American continent.
STOCK TRANSFERS.
Opinions differ as to whether a single
share of Baltimore and ONO stock has or
will be transferred, : but the belief is gaining
ground that the deal involves not only
the road itself, but also its telegraph, eX-
press and sleeping car interests. The
widest sort of talk is indulged in, but no
actual facts can be obtained from any one
in position TO know anything about it.
Many are inclined to believe that the
stock, 1900 shares, held by the johns
Hopkins University trustees, or at least
Il considerable portion of it, has been
placed under the control of the new syndi-
cate, but 81, 900 shares held by the city
of Baltimore cannot be touched without
a special act OF the City Council, Thirty
thousand shares left i'll trust by the late
John w Garrett can be disposed of, as tn =
will did not forbid their sale. but simply
ad dyised that it be held in trust ior twenty
years, so that controlling interest
might be secured if advantageous terms
We're offered. Mr.. Garrett to-day told a
gentleman at the Merchants Club that he
might rest assured that whatever was
done would be for the best interests OF
Baltimore, but further information he
could not give just now. From this il
was inferred that the scheme was not
fully consummated, and that important
developments might be expected in the
near future.
READING NO CATS PAW.
PHILADELPHIA, March 10.-One of the
receivers OF the Reading railroad said To-
day regarding the great 'railroad deal:2'
81 nave no doubt that President Garrett
would like to dispose of some of his Balti-
more aud Ohio railroad stock ut a good
rOuud sum, but you can rest assured that
the Philadelphia and Reading Railroad
Company cannot be used to pun chest
nuts out OF the fire IN anv such oombiua-
tion as has been reported" The presi-
dent OF the Baltimore aud Ohio has under
taken great task in his attempt 10 get
mis- railroad line TO New York, ana has
already loaded the company with good
deal OF debt. He can get 10 New York,
but not upon bis own terms, which means
TO cut rates as he chooses. Leading ex-
ecutiye officers OF the Pennsylvania Rail
road Company say that they have not
been consulted in regard to the Baltimore
nj IL